Gold, Silver and Crude Oil

Precious metals were pressured throughout the session Thursday following this morning's announcement that numerous central banks including the Fed, the ECB, the SNB, the BoJ and the BoE, were conducting 3 USD liquidity-providing operations with a maturity of approximately 3 months covering the end of the year, to European banks.

Gold, which finished lower by 2.4% at 1781.10 per ounce, sold off to its lowest levels at 1775, its lowest mark since late August, and finished just above those lows.

Silver futures also closed down 2.4% on the day to 39.50 oz, put in lows at 39.40, and like Gold closed just above the lows.

Nat Gas, fell 3.9% to close at 3.89 per MMBtu, sold off sharply following this morning's inventory data, which showed a larger-than-expected build. Futures extended their pullback heading into the afternoon session and notched lows at 3.88 just ahead of the close.

It was a quiet afternoon for Crude Oil, which gained 0.6% to close at 89.40 bbl.

Paul A. Ebeling, Jnr.


Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.